From remodeling and construction to in-home and commercial repairs, no two days as a contractor are ever the same. While you are busy building and fixing things, you are also hoping that nothing in your own business falls apart. Here at Frank Isadore Insurance, we understand that sentiment. We also know that the hazards you face in your line of work could put you at risk of a major financial loss without the right insurance protection. That is why we offer comprehensive coverage for contractors that helps safeguard you against the dangers of your industry and keep you going full steam ahead, even in the face of setbacks.
When you choose Frank Isadore, you are choosing an independent agent who can shop and compare multiple options from various Illinois commercial insurers. This assures you have access to competitive pricing on the coverage you need – all conveniently offered from a single agent. When you consolidate your coverage under one roof, you can simplify your contractors coverage and make it easier to manage and maintain your coverage in the future.
We can match you with contractors insurance coverage for nearly any industry, some of which include:
- General contractors
- Painters
- Landscapers
- Electricians
- Construction workers
- Plumbers
- Carpenters
- Janitorial workers
- Pool servicers
- HVAC workers
- And more
Contractor Risks
Tomorrow’s risks may be different from today’s, which is why you need flexible coverage that meets your needs as you take on various types of work and perhaps even grow your business in the future. If your equipment is stolen from the job site or a client sues you for a faulty installation, you need to know you are protected against devastating loss. Could your business afford to pay tens of thousands of dollars out of pocket for damages that could have otherwise been covered in full with better insurance coverage? With the help of a trusted independent agent, you can prepare for worst-case scenarios and reduce your vulnerability to loss.
Types of Contractors Insurance
Contractors insurance is usually a mixture of several different types of coverage, each of which works together to create broad protection for your risk exposures. Your needs could vary depending on whether you work as a general contractor or in a more specific niche, such as plumbing or construction. We will help you assess your unique risks and provide a coverage plan to minimize your losses. Your coverage may include protection for:
General Liability
Nearly all businesses – including contractors – need general liability protection. This coverage helps pay for your court costs and legal fees if you are sued for third-party injuries or other losses. It can also help cover penalties and judgments levied against you (up to the limits of your policy) if you are found liable for a loss.
Workers Compensation
When you employ workers, you have an obligation to provide a safe working environment. If one of your employees is injured on the job, whether while lifting a heavy load or in a car accident traveling between job sites, workers compensation insurance can help pay for the injuries regardless of fault. Generally, this covers the cost of necessary medical expenses, rehabilitation, and lost wages. It can also help cover funeral expenses in the event of a fatality.
Commercial Property
This is the coverage that pays for damages to your place of business, as well as your signage, furnishings, supplies, and other items you own inside. Commercial property insurance claims are typically subject to your deductible, but they can save you tens of thousands of dollars in remediation and restoration expenses after a covered loss. Although the terms of your coverage may vary, commercial property protection generally safeguards businesses against losses due to fire, wind, theft, vandalism, and more.
Commercial Vehicle
Many contractors own business vehicles – sometimes more than one. Whether you use pickups for hauling loads or need a tow truck or dump truck for your business, commercial vehicle insurance can protect the investment you made in your fleet while also protecting your business against accident-related liability.
Employee Dishonesty
Working on job sites means your crew may have access to client property. If one of your employees steals cash, jewelry, or other valuable belongings from a customer, your business could be held liable. Employee dishonesty coverage helps protect you against financial liability when an employee commits theft.
Professional Liability
If you are hired for professional services, you could become responsible for damages due to your negligence or a professional error. For example, if the faulty installation of a dish washer causes a leak and mold behind a client’s kitchen wall, you could be responsible for the damages. Professional liability insurance helps pay for the damages you cause as a result of professional mistakes.
Tools and Equipment
It could cost thousands to replace the tools and equipment you use in the course of your business. Whether they are on the job site, in storage, or in transit between jobs, make sure your tools, forklifts, dozers, and other heavy equipment are covered against potential losses and damages.
Builders Risk
The longer you work on a project, the more risk you take on until the job reaches completion. Builders risks coverage helps protect you against unexpected damages and loss, allowing you to start your project over again with minimal out-of-pocket expense.
Excess Liability (Umbrella)
When the limits on your general liability and other primary liability insurance policies are not enough to cover your actual financial responsibility after a lawsuit, umbrella insurance can help cover the remaining costs. This affordable coverage typically extends your liability protection by millions of dollars – enough to minimize the risk of facing a devastating loss in the course of your business.
Contractors Insurance in Rolling Meadows
If you work as a contractor in the Rolling Meadows area, we here at Frank Isadore Insurance want to help you find comprehensive contractors insurance coverage that will protect your business both today and in the future. For more information or to find out how an independent agent can help you reduce your costs, contact our office to request your free quote today.
